Common use of Termination Sum Clause in Contracts

Termination Sum. Upon termination of the leasing of the Goods under this Agreement following an Event of Default or total loss or constructive total loss of the Goods, the Customer shall pay to the Financier as and by way of liquidated and ascertained damages the aggregate of the following amounts:- (i) all arrears of Instalments and all other amounts accrued due under the provisions of this Agreement; (ii) all Instalments, the Residual Value and any other amounts which would have been payable but for such termination during the unexpired portion of the Term, but discounted to present day value at the Discount Rate to reflect early receipt; (iii) all other costs and outlays reasonably incurred by the Financier resulting from the Event of Default or the early termination of this for any cause whatsoever; (iv) all costs reasonably incurred by the Financier in repossessing or attempting to repossess the Goods and in storing them; (v) all Sale Expenses; and (vi) an amount equal to interest on all sums specified in sub paragraphs (i) to (v) at the Overdue Rate calculated on daily basis from the date in accordance with clause 11. The aggregate of such amounts referred to in this clause 28 shall be “the Termination Sum”.

Termination Sum. Upon the early termination of the leasing of the Goods under this Agreement following an Event of Default or total loss or constructive total loss of the Goods, the Customer shall pay to the Financier as and by way of liquidated and ascertained damages the aggregate of the following amounts:-amounts: (i) all arrears of Instalments and all other amounts accrued due under the provisions of this Agreement; (ii) all Instalments, the Residual Value Instalments and any other amounts which would have been payable but for such termination during the unexpired portion of the Term, but discounted to present day value at the Discount Rate to reflect early receipt; (iii) all other costs and outlays reasonably incurred by the Financier resulting from the Event of Default or the early termination of this Agreement for any cause whatsoever; (iv) all costs reasonably incurred by the Financier in repossessing or attempting to repossess the Goods and in storing them; (v) all Sale Expensescosts reasonably incurred by the Financier in selling or attempting to sell the Goods; and (vi) an amount equal to interest on all sums specified in sub paragraphs (i) to (v) at the Overdue Rate calculated on daily basis from the date in accordance with clause 11. The aggregate of such amounts referred to in this clause 28 shall be “the Termination Sum”.to